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Bill > S04712
NY S04712
NY S04712Authorizes the town of Orangetown to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund; provides for the repeal of such provisions upon the expiration thereof.
summary
Introduced
02/13/2023
02/13/2023
In Committee
06/10/2023
06/10/2023
Crossed Over
06/21/2023
06/21/2023
Passed
11/29/2023
11/29/2023
Dead
Vetoed
12/08/2023
12/08/2023
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the town law, in relation to authorizing the town of Orangetown, county of Rockland to establish community preservation funds; to amend the tax law, in relation to authorizing the town of Orangetown to impose a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund; and providing for the repeal of certain provisions upon expiration thereof
AI Summary
This bill authorizes the town of Orangetown to establish a community preservation fund, which will be funded by a new real estate transfer tax of up to 0.75% on property conveyances within the town. The revenues from this tax will be deposited into the community preservation fund and used for various purposes related to preserving the town's community character, such as acquiring open space, farmland, and historic properties. The bill also establishes an advisory board to review proposed acquisitions and requires the town to adopt a community preservation plan. The real estate transfer tax and the community preservation fund provisions will expire on December 31, 2043 unless further extended by the legislature.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
VETOED MEMO.103 (on 12/08/2023)
Official Document
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